Ellomay Capital LTD - ELLO STOCK NEWS

Ellomay Capital Ltd. (NYSE American: ELLO) announced its acquisition of Groen Gas Gelderland B.V. for €1.568 million plus shareholder loan repayments, enhancing its renewable energy projects in Europe. The facility in Gelderland owns an anaerobic digestion plant with a current capacity of 9.5 million Nm3/year. Following improvements, the plant is expected to generate average annual revenues of €6.4 million and net income of €1.2 million over the next decade. The financial structure will also improve due to the early repayment of mezzanine loans, decreasing finance costs substantially.

Ellomay Capital Ltd. (NYSE: ELLO) announced amendments to its Extraordinary General Meeting scheduled for December 17, 2020. Following discussions with shareholders, the Company will allow separate voting on the exemption and options granted to external director nominee Daniel Vaknin and board member Ehud Gil. The amended agenda includes the election and approval of terms and options for both nominees. The record date remains November 17, 2020, and the amended proxy materials will be mailed by November 30, 2020.

Ellomay Capital Ltd. (NYSE American: ELLO) recently reported on the publication of financial statements for Dorad Energy Ltd. for Q3 2020. Ellomay holds approximately 9.4% of Dorad indirectly through Dori Energy. Dorad's revenues for the period were around NIS 697.1 million, with an operating profit of approximately NIS 112.7 million. The company is navigating challenges due to the COVID-19 pandemic, including decreased electricity consumption and operational disruptions. Dorad is also exploring plans for a new power plant and an initial public offering, pending shareholder approval.

Ellomay Capital Ltd. (NYSE American; TASE: ELLO) has announced an extraordinary general meeting (EGM) of shareholders on December 17, 2020. The agenda includes the election of Daniel Vaknin as an external director and approval of service terms for him and existing board member Ehud Gil. Shareholders on record as of November 17, 2020 can vote, with proxy statements sent by November 18, 2020. The meeting will allow teleconference participation due to COVID-19 precautions. Resolutions require majority approval, with specific disinterested voting requirements for some items.

Ellomay Capital Ltd. (NYSE American: ELLO) announced the mechanical completion of the Talasol Project, a photovoltaic plant in Talaván, Spain, with a peak capacity of 300MW. The company holds a 51% stake in Talasol Solar S.L., the project developer. CEO Ran Fridrich highlighted this milestone as significant despite challenges posed by the Covid-19 pandemic, stating it met both schedule and budget expectations. The grid connection process is anticipated to begin within 5-7 weeks, further advancing Ellomay’s renewable energy initiatives in Europe and Israel.

Ellomay Capital Ltd. (NYSE American: ELLO) reported unaudited financial results for the six months ending June 30, 2020. Revenues decreased to approximately €4.2 million, down from €10.3 million in 2019, primarily due to the sale of its Italian PV Portfolio. Operating expenses also decreased, amounting to €2.1 million, due to operational efficiencies and insurance reimbursements. The company reported a net loss of €4.3 million, with total comprehensive loss of approximately €13.5 million. The impact of COVID-19 on operations was noted, but current project developments continued successfully.

Ellomay Capital Ltd. (NYSE: ELLO) announced that its Talasol Solar S.L. photovoltaic plant in Cáceres, Spain, has received the final start-up certificate, allowing it to commence operations. This authorization is crucial for the project, which has a peak capacity of 300 MW. Ellomay holds a 51% ownership stake in Talasol. CEO Ran Fridrich stated that the construction is nearly complete and that connection to the grid is expected in 5-7 weeks. The company continues to focus on renewable energy projects across Europe and Israel.

Ellomay Capital Ltd. (NYSE American: ELLO) reported on August 27, 2020, its indirect financial participation in Dorad Energy Ltd. Following the Luzon Group's quarterly report, Dorad's unaudited revenues for Q2 2020 were approximately NIS 508.7 million, with an operating profit of about NIS 32.7 million. The company acknowledged a decline in economic activity due to COVID-19, impacting electricity consumption. Despite disruptions, Dorad maintained operations under government guidelines. Ellomay plans to report its share from Dorad's results around September 24, 2020.

Ellomay Capital Ltd. (NYSE American: ELLO) has been awarded a quota of 20 MW in a tender by the Israeli Electricity Authority for combined photovoltaic and electricity storage facilities in Israel. This successful bid is part of a larger quota of 168 MW accepted from various entities. The tariff rate is set at NIS 0.199 per kWh, linked to the Israeli CPI and valid for 23 years.

The Company will now explore potential construction sites and must obtain various approvals for project development within specified timelines.